German insurer Allianz (AZSEY.PK) reported that its fourth-quarter net income attributable to shareholders declined to 1.22 billion euros from 1.26 billion euros in the same quarter last year. Earnings per share were 2.67 euros, down from 2.72 euros in the prior year period.
Operating profit for the latest fourth quarter was 2.26 billion euros, down from 2.38 billion euros in the previous year.
Quarterly total revenues were 30.1 billion euros, compared with 26.8 billion euros in the comparable quarter last year.
The clarification of capital requirements under the new regulation Solvency II allowed a redefinition of the Allianz SE dividend policy. In November 2014, the Management Board and the Supervisory Board passed the new policy.
Starting with fiscal year 2014, 50 percent of net income attributable to shareholders will be paid out, compared to 40 percent previously. Following the new policy, the Management Board has proposed to the Supervisory Board
of Allianz SE a dividend of 6.85 euros per share, an increase of 29 percent compared to the previous year.
"The revised dividend policy reflects our successful efforts to prepare Allianz for the future," said Michael Diekmann. "We expect the economic environment to remain challenging in 2015. Our current operating profit
outlook for 2015 is 10.4 billion euros, plus/minus 400 million euros."
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